After a wide ranged week of up and back down, the front month wheat markets are looking to add value to end the week. CBT futures are trading 7 1/2 to 9 3/4 cents in the black. KC wheat futures are up by 11 1/4 to 11 3/4 cents into Friday’s midday. MGE wheat futures are trading 10 3/4 to 15 1/2 cents stronger.Â
U.S. wheat exports were 3.048 MMT in September according to Census data. That was a MY high and was up 32% from Sep ’21. MYTD wheat shipments totaled 8.67 MMT, but down 4% from last year’s pace as the slowest 4 month start since 18/19.Â
Ukraine’s Ag Ministry reported that 13.4 MMT of grain shipments for the season through 11/2. That was down 32% from last year, and included 5.1 MMT of wheat which was down 60% from last year. IKAR estimated the Russian 22/23 wheat crop at 101 MMT with 50 MMT of exportable supply.
Dec 22 CBOT Wheat  is at $8.48 1/2, up 8 cents,
Mar 23 CBOT Wheat  is at $8.67 1/2, up 7 3/4 cents,
Cash SRW Wheat  is at $7.81 5/8, up 8 cents,
Dec 22 KCBT Wheat  is at $9.53 1/4, up 12 cents,
Cash HRW Wheat  is at $9.11 1/4, up 12 cents,
Dec 22 MGEX Wheat  is at $9.59, up 16 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
